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GreekReporter.comGreek NewsEconomyAthens Stock Exchange Maintains 28-Year Low Closing at -1.22%

Athens Stock Exchange Maintains 28-Year Low Closing at -1.22%

SLAUGHTER-820x418The Athens Stock Exchange maintained Monday’s 28-year low closing at -1.22 percent and 659.94 units on Tuesday, after a low of 635.06.
The bourse re-opened on Monday after a five-week hiatus due to the imposition of capital controls by the Greek government.
Greece’s banking stocks plummeted for the second day in a row, holding down the main Athens index which otherwise looked as if it was turning the corner after the previous day’s record drop at -16.23 percent and about 8 billion euros in value.
With banks in dire need of recapitalization after a flight of euros from deposits for most of this year, the banking index was down more than 29 percent, bumping up against the 30 percent daily loss limit at which trading is halted.
However, many non-financial sector indexes gained on Tuesday. The blue chip retail sector, for example, was up nearly 6 percent. Gaming group OPAP, Aegean Airlines, and some tourism related stocks also saw significant gains.

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